Forex Daily Forecast, Analysis and Prediction

Bitcoin price had a flash crash during the weekend.

The AUD/USD pair crashed to a multi-month low of 0.6450 on Monday, much lower than this month’s high of 0.6645.

The GBP/USD which had been trading high on late Tuesday and seemed to be sustaining value on Wednesday, abruptly was walloped by stronger than anticipated U.S CPI.

Higher than expected US inflation data and tension in the Middle East saw the US Dollar gain while stocks and most commodities fell.

Traders with open positions in WTI Crude Oil this weekend are likely paying attention to the news developing between Iran and Israel.

Get the weekly Forex forecast for major currency pairs for the week of April 15-19, 2024 here.

The US dollar initially pulled back just a bit during the trading session on Thursday, only to turn around and show signs of strength and break above the 1.37 level.

The British pound initially rally during the trading session on Thursday to reach the 200-Day EMA, but then turned around to show signs of negativity.

The Australian dollar spiked higher during the trading session on Thursday, reaching toward the 50-Day EMA.

The S&P 500 went back and forth on Thursday, as we continue to see the market try to sort out whether or not it wants to go higher or if it is going to consolidate.

The euro has fallen against the British pound during the trading session on Thursday, breaking down below the 50-Day EMA.

The dollar-yen pair initially pulled back just a bit during the trading session on Thursday only to bounce again.

The Dax fell initially during the trading session on Thursday. A you can see, the €18,000 level seemed to be offering significant support.

Silver continues to hang around near the highs as the market has seen an inordinate amount of bullish pressure.

Bitcoin rallied slightly during the trading session here on Thursday as we continue to see a lot of upward momentum.